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closer to a tax and fiscal cliff fix? cnbc's own chief washington correspondent john harwood joins us now with all the details. good evening, john. >> reporter: good evening, laurie, and i think we are getting somewhat closer, and the white house would count it as good news that you found common cause with their report on the impact of fiscal spending. let's talk for a moment about what's happened on the fiscal cliff by the numbers since that early constructive meeting with the congressional leaders and the president. the numbers are all one. there's one month left for these leaders to figure it out. two, 1.4 it is is the amount to be shaved off by gdp and one is the amount of trillions of dollars that democratic aides, senior democratic aides tell me is necessary to get a deal wit end of the year with the remaining 3 trillion of savings coming in the early part of next year, ants finally one is the number of phone calls made over the weekend between president obama and house speaker john boehner so there hasn't been a lot of concrete progress, but there is total progress in terms of the
. and that is there's been indecision and uncertainty in washington on our middle east policy, whether it's being tougher on benjamin netanyahu for defending israel than they've been on iran for not having nuclear weapons. whether it is the conflicting approaches to the middle east peace process, et cetera. so there's a vacuum that has to be filled. the u.s. has to step up and provide leadership. president morsi in cairo called mr. jabari, the terrorist who was killed, a martyr. the muslim brotherhood does have a close relationship with hamas. iran has given hundreds of millions of dollars to hamas in recent months. so the region is in turmoil. the u.s. should step up firm for our ally, make clear where we are, try to get turkey and egypt -- both of whom have been sympathetic to hamas -- to stand down. >> that's not happening. john, u.s. foreign policy in the middle east, maybe elsewhere, but in the middle east right now in the wake of libya and benghazi, we are at low ebb, john, in the eyes i dare say of middle eastern countries and in the eyes of european countries and maybe in the eyes of asia
there is so much waste and unneeded programs in washington. >> people want to cut social security? not republicans, not democrats, here in washington we have people who want to cut social security? >> it's the largest federal program, social security is. it's larger than defense. cut social security, cut medicare, we're going to freeze. >> let me get one in here before we go. i'm reading in the papers today, the financial times that they want business tax loopholes, so-called tax loopholes closed. no rate reduction on the other side. they just want to close them down. of course we're talking about oil and gas and coal. they want $150 billion in revenues. that's going to be on top of the 400 or 500 billion dollars. tax rates may not go up but they're not going down. i tell you, to me this has stalemate. the reason i like this segment very much is the fact is stock market people think this is going to be easy. mr. obama called a couple of ceos over the weekend. i'd say right now there is just as good a chance for a stalemate as there is for a solution. last word? >> i'm willing to b
. minutes ago we learned amtrak is resuming service from newark to washington and area airports are almost back to normal. and between news for the 26 mile new york city marathon will proceed as planned this sunday. >> so welcome back, everybody. the pictures and stories left from the storm's after math are still jaw-dropjaw-dropping. let's begin with scott cohn in lower manhattan. >> larry, hurricane sandy sent about 4 feet of water in the financial district and they think it actually may be a total loss, about $300,000 worth of damage. and they don't know if insurance is going to cover it. you multiply that by thousands of businesses and you begin to get a sense of what the problem is. and then there's the issue of getting around and getting gas. mary thooyor thompson has that . >> people with been waiting in line two to three hours. there's a shortage of power to open other gasoline stations. a lack of electricity plaguing the tri-state area. >> dangerous conditions at the gas terminal which is crucial. workers here trying hard to clean things up, but tough to do so without power. over
that and really concentrate the mind of these dopes in washington. >> wasn't it bob ruben who said during the clinton years -- or james carville -- the same thing. look what happened, clinton cut the rate and you had a huge rally in stocks and bonds. the stork market may do the same thing here. >> if you want to root for a bullish stock market, maybe in the short term, let's get a deal going and then do tax reform and entitlement reform. meantime, i think stocks are warping these guys you're going to put us on the precipice of a recession, and that's bad for earnings and stocks. >> the fed has done the same thing. they've come out in recent weeks and said instead of just buying $45 billion of bonds every month, we may have to double that and extend it out further. >> richard fisher of the dallas fed told me last night they don't do that. actually, that's not fair. he said in his opinion they shouldn't do that. we don't know, you might right. mike of "forbes," thank you very much. >>> this is truly the video of the day. the israelis get their man. the military head of hamas taken down with
question that i'm hearing from washington all the time. so let's talk. we have cnbc contributor jack bernstein, former chief economist, and art laffer, former reagan adviser. i'm not attacking obama or anything. i'm just saying there is a lot of talk of stalemate. well perhaps go through where, why and how. staffs have been meeting unsuccessfully. some people are saying, art, that the scenario is going to be that president finally throws up his hands and says there is no deal, we're going to have a stalemate and we will tall off the fiscal cliff into recession and then he will blame the republicans. what's your take? >> i think he's going to blame the republicans, larry, for sure. and i think in the republican's interest to delay it as long as possible and make the republicans look as uncooperative as possible. but we will fall off the cliff anyway, larry. and i think we will have a very bad year in 2013, even if they do extend all of the tax cuts. i think we have a real bad scenario coming forward. >> jared bernstein, what do you think that the president might go off the cliff. okay
we expect mitt romney or obama to pull off a sizable win? who knows. chief washington correspondent john harwin knows. >> everything we know suggests it's going to be chose. let me give you context for prediction of a romney victory. take the latest nbc/"wall street journal" poll. obama 48%, romney photography%, can't get any closer than that, well wind the margin of error. then go to the battleground states. we've got three late battle ground state polls. first of all in the state of virginia which as you mentioned, polls close early, 13 electoral votes, 48/47, president obama on top. state of florida, two-point lead for president obama. the state of ohio, most people have seen as the hinge point of this election, president obama's up 51/45. let's look at where the battleground states stand. if you average polls taken on the real clear politics website, of the nine battle ground states romney is only leading in the average of those polls in the two of them, north carolina and florida. the other states, president obama's got a lead. i'm talking about iowa, colorado, new hampshire, o
Search Results 0 to 6 of about 7